By Admin | July 09, 2018
CAPITALAND Commercial Trust (CCT) has agreed to sell Twenty Anson, a 20-storey office building in Tanjong Pagar, to an unrelated third party for S$516 million, its manager announced on Friday.
The sale price, arrived at through a bidding process, works out to S$2,503 per square foot of the building’s net lettable area of approximately 206,000 sq ft.
The price is also 19.2 per cent above the property's valuation of S$433.0 million done on Dec 31, 2017, and 20 per cent higher than CCT’s purchase price of S$430.0 million in 2012.
The transaction is expected to be completed in the third quarter of this year.